Purchase a Home

Whether you’re a first-time homebuyer or an experienced homeowner, it’s important to work with a lender you can trust. Community Resource Bank has the mortgage products, competitive rates and expertise you will need to plan ahead.

What Can You Afford?

The first step in buying a home is determining what you can afford. Contact Peggy Hoffman at 507-645-3111 or Thom Jones at 651-634-9476 or use our online prequalification process.

The Next Step

Once your offer to purchase is accepted by the seller, we’ll begin the steps that lead to mortgage approval.

Items needed for all application types:

Social Security numbers and birth dates of all borrowers

24 month personal residence history

Copies of pay stubs for last 30 days

Copies of W-2 forms for last 2 years

Bank statements and quarterly investment statements

Homeowner’s insurance information

Miscellaneous items if applicable:

Pension and Social Security award letter

Divorce Decree

Tax returns for rental or investment income

Bankruptcy papers

Landlord contact information

Purchase:

Address of the property you are purchasing

Purchase Agreement, Addendum and Disclosure signed by both seller and buyer

Closing Costs

Closing costs are fees and expenses that both buyer and seller pay at closing. Once your loan is approved and a closing date has been set, we will provide you with the estimated amount of your closing costs which are payable at closing in the form of a cashier’s check or wire transfer.